True Link Financial Advisors LLC Takes $362,000 Position in Wells Fargo & Company (NYSE:WFC)

True Link Financial Advisors LLC purchased a new stake in shares of Wells Fargo & Company (NYSE:WFC - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,039 shares of the financial services provider's stock, valued at approximately $362,000.

A number of other hedge funds and other institutional investors have also modified their holdings of WFC. Flagstone Financial Management boosted its position in Wells Fargo & Company by 1.5% in the 1st quarter. Flagstone Financial Management now owns 11,413 shares of the financial services provider's stock valued at $819,000 after buying an additional 170 shares during the last quarter. Walter & Keenan Wealth Management LLC IN ADV lifted its stake in shares of Wells Fargo & Company by 2.3% during the first quarter. Walter & Keenan Wealth Management LLC IN ADV now owns 26,653 shares of the financial services provider's stock valued at $1,913,000 after acquiring an additional 602 shares during the period. Silver Oak Securities Incorporated bought a new position in Wells Fargo & Company in the first quarter valued at about $215,000. Premier Path Wealth Partners LLC increased its position in Wells Fargo & Company by 1.0% in the first quarter. Premier Path Wealth Partners LLC now owns 23,366 shares of the financial services provider's stock worth $1,677,000 after purchasing an additional 235 shares during the period. Finally, Centennial Wealth Advisory LLC increased its position in Wells Fargo & Company by 7.9% in the first quarter. Centennial Wealth Advisory LLC now owns 3,805 shares of the financial services provider's stock worth $273,000 after purchasing an additional 280 shares during the period. Institutional investors and hedge funds own 75.90% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on WFC shares. Phillip Securities raised shares of Wells Fargo & Company from a "moderate buy" rating to a "strong-buy" rating in a research note on Monday, April 14th. Piper Sandler restated an "overweight" rating and issued a $85.00 price objective (up from $75.00) on shares of Wells Fargo & Company in a report on Wednesday, June 4th. Morgan Stanley raised their price objective on shares of Wells Fargo & Company from $77.00 to $87.00 and gave the company an "overweight" rating in a research note on Wednesday, June 4th. JPMorgan Chase & Co. dropped their target price on shares of Wells Fargo & Company from $82.00 to $73.50 and set a "neutral" rating for the company in a research report on Thursday, April 3rd. Finally, The Goldman Sachs Group increased their price target on Wells Fargo & Company from $76.00 to $86.00 and gave the company a "buy" rating in a research note on Tuesday, June 10th. Seven research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Wells Fargo & Company has a consensus rating of "Moderate Buy" and a consensus target price of $77.98.

Wells Fargo & Company Stock Performance

Shares of WFC opened at $74.74 on Friday. The firm has a market cap of $243.21 billion, a P/E ratio of 13.42, a PEG ratio of 1.25 and a beta of 1.16. Wells Fargo & Company has a twelve month low of $50.15 and a twelve month high of $81.50. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.84 and a current ratio of 0.84. The firm's 50 day moving average price is $72.16 and its two-hundred day moving average price is $72.86.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last posted its quarterly earnings data on Friday, April 11th. The financial services provider reported $1.39 EPS for the quarter, beating the consensus estimate of $1.23 by $0.16. The business had revenue of $20.15 billion for the quarter, compared to analysts' expectations of $20.82 billion. Wells Fargo & Company had a net margin of 16.19% and a return on equity of 12.15%. The firm's revenue was down 3.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.20 EPS. On average, analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company announced that its Board of Directors has initiated a share buyback plan on Tuesday, April 29th that permits the company to repurchase $40.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to buy up to 17.2% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board believes its shares are undervalued.

Wells Fargo & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, June 1st. Stockholders of record on Friday, May 9th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, May 9th. This represents a $1.60 annualized dividend and a dividend yield of 2.14%. Wells Fargo & Company's dividend payout ratio is currently 28.73%.

Wells Fargo & Company Company Profile

Wells Fargo & Co is a diversified and community-based financial services company, which engages in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance products and services. It operates through the following segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management.

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